Biochip Market Size 2021-2030, Growth, Trends, Demand and Forecast | Increasing Adoption of Biochips in Various Applications in The Field of Genomics, Drug Discovery, And Proteomics Is Driving Biochip Market Revenue Growth, Says Reports and Data
NEW YORK, March 3, 2022 /PRNewswire/ -- The global biochip market size is expected to reach USD 34.25 Billion in 2030 and register a revenue CAGR of 11.5% over the forecast period, according to the latest report by Reports and Data. Biochips are being adopted in various applications in the field of genomics, drug discovery, and proteomics at a rapid rate. This is towing to benefits such as low expense, high speed, and high throughput. Miniaturization of biochip has great potential to be a crucial and powerful tool for clinical research, diagnostics, drug development, toxicology studies, and patient selection for clinical trials.
In addition, development of targeted and personalized medicines for treatment of cancer and technological advancements in biochips are also driving biochip market revenue growth. Biochip identifies cancerous cells and removes it during dialysis. The chip can be used to diagnose cancer and to dramatically reduce the cost associated with the treatment. It also enables "telemedicine", which is the remote diagnosis or treatment of patients using technology. Biochips are expected to revolutionize the way the medical field diagnosis cancer and other diseases, by allowing for quicker and more effective treatment owing to early and accurate diagnosis.
Biochips are increasingly being utilized within the field of biomedical and biotechnological research. With progress in innovation, there has been an increase in adoption of biochips in proteomics, such as in microarrays. The benefits of protein biochips include low sample consumption and its inclination toward miniaturization. These characteristics of microarrays are imperative for proteome-wide analysis. Proteomics is being widely adopted for biomarker and drug discoveries.
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However, high cost of biochips can restrain market growth. Moreover, lack of awareness, particularly in developing and underdeveloped countries and strict administrative directions given by various governments over the globe is further limiting market growth during the forecast period.
Some Key Highlights From the Report
- In April 2020, Bio-Rad Laboratories, Inc., a global leader of life science research and clinical diagnostics products, announced acquisition of Celsee, Inc., a company that offers instruments and consumables for the isolation, detection, and analysis of single cells.
- Protein chip segment is expected to grow at a fast rate over the forecast period owing to improvement in the field of recombinant proteins. Protein biochips are reliable tools for detection of multiple biomarkers with only a minimal quantity of samples and have enormous potential in applications for personalized medicine. They also play a significant role in the development of safer drugs through comprehensive profiling of drugs or lead compounds for effects.
- Microarray technology segment is expected to register a rapid growth rate during the forecast period. This growth is attributed to extensive use of biochips in forensic analysis and identification of drug candidates in drug discovery process.
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- A single experiment performed with silicon chip allows label-free imaging of arrayed protein probes coupled with high sensitivity fluorescence detection of molecular interaction counterparts. Silicon segment is expected to register a rapid growth rate during the forecast period. Silicon material is of high practical utility during assay development process to image arrays, quantify number of immobilized probes, check consistency and quality of the protein array, and finally detect fluorescence of bioassays.
- Market in North America accounted for largest revenue share in 2021 owing to surge in geriatric population base, increasing prevalence of chronic diseases such as cancer and cardiac diseases, coupled with availability of advanced healthcare systems in the region.
- Companies profiled in the global market report include bioMerieux SA, F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Fluidigm, Illumina, Inc., HORIBA, Ltd., PerkinElmer, Inc., QIAGEN, Randox Laboratories Ltd., and Thermo Fisher Scientific Inc.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/biochip-market
For the purpose of this report, Reports and Data has segmented biochip market based on product, technology, substrate materials, application, end-use, region:
Product Outlook (Revenue, USD Billion; 2019–2030)
- DNA Chip
- Lab - on - Chip
- Protein Chip
- Others
Technology Outlook (Revenue, USD Billion; 2019–2030)
- Microfluidics
- Microarray
Substrate Materials Outlook (Revenue, USD Billion; 2019–2030)
- Glass
- Polymers
- Silicon
- Others
Application Outlook (Revenue, USD Billion; 2019–2030)
- Genomics
- Proteomics
- Drug Discovery and Development
- In-Vitro Diagnostics
- Disease Diagnostics
- Agriculture
End-use Outlook (Revenue, USD Billion; 2019–2030)
- Pharmaceutical and Biotechnology Company
- Academic and Research Institute
- Hospitals and Diagnostic Centers
- Other end-uses
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Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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